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(RTTNews) – European stocks are seen opening a tad higher on Friday in light pre-Christmas trade. Financial markets in the U.K. will close early today for Christmas.
Asian markets followed Wall Street lower as forecast-beating U.S. data fueled expectations that the Federal Reserve will continue to lift interest rates.
China’s key money rate fell to a record low today after the country’s central bank made its biggest weekly liquidity injection into the banking system in nearly two months to help banks tide over the year-end rush for cash.
A new analysis revealed that China is likely experiencing 1 million COVID infections and 5,000 virus deaths every day.
The dollar rose broadly while gold traded flat after having fallen more than 1 percent on Thursday.
An inflation reading said to be preferred by the Fed along with U.S. reports on durable goods orders, new home sales and consumer sentiment may sway markets later in the day.
Oil rose over 1 percent in Asian trade after snapping a three-day winning streak in the previous session.
U.S. stocks fell sharply overnight and the dollar rose, as signs of a tight labor market and an upward revision to the U.S. Q3 growth rate heightened expectations of further Fed tightening.
The tech-heavy Nasdaq Composite tumbled 2.2 percent to its lowest closing level in well over a month, while the Dow dropped 1.1 percent and the S&P 500 shed 1.5 percent.
European stocks closed lower on Thursday as data showed U.K. GDP shrank more than initial estimated in the third quarter.
The pan European STOXX 600 declined 1 percent. The German DAX lost 1.3 percent, France’s CAC 40 index tumbled 1 percent and the U.K.’s FTSE 100 eased 0.4 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image and article originally from www.nasdaq.com. Read the original article here.